Jacobs Engineering Group Inc to Post FY2019 Earnings of $4.50 Per Share, DA Davidson Forecasts (JEC)
Jacobs Engineering Group Inc (NYSE:JEC) – Investment analysts at DA Davidson lifted their FY2019 earnings per share estimates for shares of Jacobs Engineering Group in a note issued to investors on Wednesday. DA Davidson analyst B. Thielman now anticipates that the construction company will post earnings of $4.50 per share for the year, up from their prior estimate of $3.90. DA Davidson has a “Hold” rating and a $68.00 price objective on the stock.
A number of other brokerages also recently issued reports on JEC. UBS Group upgraded Jacobs Engineering Group from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Monday, January 29th. Barclays lifted their price target on Jacobs Engineering Group from $75.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Goldman Sachs Group upgraded Jacobs Engineering Group from a “sell” rating to a “neutral” rating in a report on Tuesday, January 30th. Credit Suisse Group reiterated an “outperform” rating and issued a $82.00 price target on shares of Jacobs Engineering Group in a report on Thursday, January 18th. Finally, Zacks Investment Research raised Jacobs Engineering Group from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Monday, January 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. Jacobs Engineering Group presently has an average rating of “Hold” and a consensus price target of $74.00.
Jacobs Engineering Group (NYSE:JEC) last announced its quarterly earnings results on Wednesday, February 7th. The construction company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. Jacobs Engineering Group had a return on equity of 8.59% and a net margin of 2.30%. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the business posted $0.68 EPS. The business’s revenue was up 7.8% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 16th will be given a $0.15 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.95%. Jacobs Engineering Group’s payout ratio is 30.77%.
In other news, Director Joseph R. Bronson sold 6,125 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $63.01, for a total value of $385,936.25. Following the completion of the sale, the director now owns 30,496 shares of the company’s stock, valued at approximately $1,921,552.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.74% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisor Group Inc. lifted its position in Jacobs Engineering Group by 18.8% during the 2nd quarter. Advisor Group Inc. now owns 2,140 shares of the construction company’s stock worth $117,000 after acquiring an additional 339 shares during the period. Public Employees Retirement Association of Colorado lifted its position in Jacobs Engineering Group by 3.6% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 21,707 shares of the construction company’s stock worth $1,432,000 after acquiring an additional 762 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Jacobs Engineering Group by 9.4% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,785 shares of the construction company’s stock worth $570,000 after acquiring an additional 838 shares during the period. OLD National Bancorp IN lifted its position in Jacobs Engineering Group by 13.3% during the 4th quarter. OLD National Bancorp IN now owns 7,741 shares of the construction company’s stock worth $510,000 after acquiring an additional 907 shares during the period. Finally, Global X MANAGEMENT CO LLC lifted its position in Jacobs Engineering Group by 20.8% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 5,736 shares of the construction company’s stock worth $334,000 after acquiring an additional 986 shares during the period. 71.51% of the stock is owned by institutional investors.
Jacobs Engineering Group Company Profile
Jacobs Engineering Group Inc is a technical professional services company. The Company provides a range of technical, professional and construction services to industrial, commercial and governmental clients. The Company’s services include Project Services; Process, Scientific, and Systems Consulting Services; Construction Services, and Operations and Maintenance Services.
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